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It was an act that raised tariffs on imported goods. It backfired because other countries didn't want to be treated unfairly, so they raised their tariffs too. Many economists think that it made the Great Depression worse. In any case, because many countries started to boycott US goods in retaliation, it gave more business to the UK and other countries besides the US. As with most things, some people benefitted, but others were harmed. Definitely international trade relations were harmed.

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Q: What was the Smoot-Hawley Tariff Act How did it backfire?
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Why did the smoot-hawlay tariff act backfire?

The act brought retaliatory tariff acts from foreign countries, U.S. foreign trade suffered a sharp decline, and the depression (etc...)


How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?

Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?"


When Congress passed the SmootHawley tariff to help alleviate conditions of the Great Depression why was it actually the wrong thing to do?

The Tariff Act of 1930 raised tariff fees on imported goods to a historical high. Meant to help US business at a fragile time, it actually worsened the situation by reducing US imports and exports to nearly half. This overall this contributed to a longer and deeper depression.


What factor helped to worsen the great depression?

The Smoot-Hawley Tariff  act


What did the Underwood Tariif do?

The Underwood Tariff lowered the basic tariff rate. It lowered the rate from 40 percent to 25 percent. It is also known as the Revenue Act of 1913, Underwood Act, and Tariff Act.


What is a backfire?

A backfire is an act of firing in the opposite direction to intended, for example, a gun being obstructed in the barrel.


The McKinley Tariff resulted in?

The tariff raised the average duty on imports to almost fifty percent, an act designed to protect domestic industries from foreign competition. The McKinley Tariff was replaced with the Wilsonâ??Gorman Tariff Act in 1894, which promptly lowered tariff rates.


What act was passed by congress in 1828?

Tariff of Abominations act.


What affect did the Fordney-McCumber Tariff have on Europe?

The Fordney-McCumber Tariff Act of 1922 made it difficult for Europe to do business with the United States. This Tariff Act placed a power on the President of the United States to raise tariff rates by up to 50%.


When was the smoot-howley tariff established?

June 17, 1930 was when this tariff act was signed into law.


Who can you use the word tariff in a sentence?

During the Tea Act, colonists were forced to pay a tariff on the tea that they bought.


How would you use tariff in a sentence?

During the Tea Act, colonists were forced to pay a tariff on the tea that they bought.